Samsung Biologics Gains Advantage From 15% Tariff Under Trade Agreement; CDMO Special Act to Take Effect in December

Samsung Biologics has secured a cost advantage by receiving a 15% tariff rate under the Korea-U.S. trade agreement, compared with the 100% rate applied to non-most-favored-nation countries. The government enacted a special law supporting CDMO regulatory assistance, which is scheduled to take effect in December. Following offices in the United States and Japan, Samsung Biologics plans to open an office in Amsterdam this year and establish an innovation center in Songdo to support 30 startups beginning next year.